Update on Nueva Esperanza Project

Kingsgate Consolidated Limited (ASX: KCN) (“Kingsgate” or the “Company”) confirms that as disclosed in its Quarterly Report released to the market on 30 April, the Company has appointed an investment bank to advise and assist it in identifying advantageous options to monetise its Nueva Esperanza Project in Chile (“Project”).

Following comment in this morning’s “Australian” newspaper, the Company confirms that the investment bank is Investec Australia Limited.

Kingsgate continues to explore opportunities to capitalise on the value of the Project, including by way of a possible sale. However, no decision has yet been taken to do so, and all options remain on the table.